Gurugram:Homebuyers looking to capitalize on the market's epidemic flatness and purchase properties in the city's premium condominiums will need to lay up a larger amount.
The government has authorized a rise in circular rates for the current fiscal year, which would make property registration more expensive in regions where the majority of new housing in the city is available. Following the change, the circle rates of areas next to the Southern Peripheral Road (SPR), Golf Course Road, and Dwarka Expressway have all seen increases of up to 25%. Commercial sector circle rates, on the other hand, remained constant.
Circle rates are the minimum government-defined pricing at which a plot, built-up home, apartment, commercial property, or land can be sold or transferred. The property cannot be registered for less than this amount. This is also the basis for stamp duty and registration fees on a property.